Tag Archive for: tax credit

Retirement Plan
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Save for retirement now, get a tax credit later

The Internal Revenue Service reminds low- and moderate-income workers that they can save for retirement now and possibly earn a special tax credit in 2022 and years ahead. The Retirement Savings Contributions Credit, also known as the Saver's…
WXC Corporation Doral Miami
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IRS updates Information on tax credit helping businesses to hire certain categories of workers

WASHINGTON — The IRS today updated information on the Work Opportunity Tax Credit (WOTC), available to employers that hire designated categories of workers who face significant barriers to employment. For employers facing a tight job market,…
wxc corporation miami
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New law extends COVID tax credit for employers who keep workers on payroll

WASHINGTON — The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees…
wxc corporation miami
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IRS Reminds Taxpayers of Special $300 Charity Deduction without Itemizing

The CARES Act includes several temporary tax changes helping charities, including the special $300 deduction designed especially for people who choose to take the standard deduction, rather than itemizing their deductions. The Internal Revenue…